Survey of Accounting (Accounting I)
8th Edition
ISBN: 9781305961883
Author: Carl Warren
Publisher: Cengage Learning
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Question
Chapter 5, Problem 4CDQ
To determine
Introduction:
Control Procedures within internal control provides reasonable assurance that the objectives laid down by the management will be achieved including prevention of fraud. It includes the following:
- Competent personnel, rotational shift and mandatory vacations.
- Separate responsibilities for all related operations.
- Separate operations, custody of assets and accounting
- Proof and security measures.
If rotating clerical employees between various job aids in strengthening the control procedures within the control environment.
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Students have asked these similar questions
The internal control principle related to separating employees' duties so that the work of one person can be used to check the work of
another person is called:
Multiple Choice
duplication of responsibility.
independent internal verification.
segregation of duties.
rotation of duties.
Which of the following elements of internal control includes maintaining records of employees documenting their compensation and promotion?
Control procedures
Monitoring
Control environment
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Chapter 5 Solutions
Survey of Accounting (Accounting I)
Ch. 5 - Prob. 1SEQCh. 5 - Prob. 2SEQCh. 5 - Prob. 3SEQCh. 5 - Adjustments to the company’s records based on the...Ch. 5 - Prob. 5SEQCh. 5 - Prob. 1CDQCh. 5 - Prob. 2CDQCh. 5 - Prob. 3CDQCh. 5 - Prob. 4CDQCh. 5 - Prob. 5CDQ
Ch. 5 - Prob. 6CDQCh. 5 - Prob. 7CDQCh. 5 - Prob. 8CDQCh. 5 - Prob. 9CDQCh. 5 - Assume that Leslie Hunter, accounts payable clerk...Ch. 5 - Prob. 11CDQCh. 5 - The accounting clerk pays all obligations by...Ch. 5 - Prob. 13CDQCh. 5 - Prob. 14CDQCh. 5 - Do items reported as a credit memorandum on the...Ch. 5 - Prob. 16CDQCh. 5 - Prob. 17CDQCh. 5 - Prob. 5.1ECh. 5 - Prob. 5.2ECh. 5 - Prob. 5.3ECh. 5 - Prob. 5.4ECh. 5 - Prob. 5.5ECh. 5 - Prob. 5.6ECh. 5 - Prob. 5.7ECh. 5 - Prob. 5.8ECh. 5 - Prob. 5.9ECh. 5 - Prob. 5.10ECh. 5 - Prob. 5.11ECh. 5 - Prob. 5.12ECh. 5 - Prob. 5.13ECh. 5 - Prob. 5.14ECh. 5 - Prob. 5.15ECh. 5 - Prob. 5.16ECh. 5 - Prob. 5.17ECh. 5 - Prob. 5.18ECh. 5 - Prob. 5.19ECh. 5 - Entries for note collected by bank Accompanying a...Ch. 5 - Prob. 5.21ECh. 5 - Prob. 5.22ECh. 5 - Prob. 5.23ECh. 5 - Prob. 5.24ECh. 5 - Prob. 5.25ECh. 5 - Prob. 5.1PCh. 5 - Prob. 5.2.1PCh. 5 - Prob. 5.2.2PCh. 5 - Prob. 5.3.1PCh. 5 - Prob. 5.3.2PCh. 5 - Prob. 5.4.1PCh. 5 - Prob. 5.4.2PCh. 5 - Prob. 5.4.3PCh. 5 - Prob. 5.4.4PCh. 5 - Prob. 5.1.1MBACh. 5 - Prob. 5.1.2MBACh. 5 - Prob. 5.1.3MBACh. 5 - Prob. 5.1.4MBACh. 5 - Ratio of cash to monthly cash expenses AcelRx...Ch. 5 - Prob. 5.2.1MBACh. 5 - Prob. 5.2.2MBACh. 5 - Ratio of cash to monthly cash expenses Pacira...Ch. 5 - Ratio of cash to monthly cash expenses Pacira...Ch. 5 - Prob. 5.2.5MBACh. 5 - Prob. 5.3.1MBACh. 5 - Prob. 5.3.2MBACh. 5 - Prob. 5.3.3MBACh. 5 - Prob. 5.3.4MBACh. 5 - Prob. 5.3.5MBACh. 5 - Prob. 5.4.1MBACh. 5 - Prob. 5.4.2MBACh. 5 - Prob. 5.1CCh. 5 - Prob. 5.2CCh. 5 - Prob. 5.3CCh. 5 - Prob. 5.4CCh. 5 - Prob. 5.5.1CCh. 5 - Prob. 5.5.2CCh. 5 - Prob. 5.5.3CCh. 5 - Prob. 5.6C
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Similar questions
- What is internal control, give an example of internal control in HR department?arrow_forwardWhich of the following is not included in the steps to evaluate the internal control system? a. Interview Customers b. Interview Management c. Interview Owners d. Interview Employeesarrow_forwardORGANIZATION STRUCTURE AND SPAN OF CONTROL Refer to the organization charts labeled Structure A and Structure B in the figure for problem 11. Required a. For organizational structure A, describe the 1. advantages and disadvantages of this structure. 2. impact of the resulting span of control. 3. possible effect on employee behavior. b. For organizational structure B, describe the 1. advantages and disadvantages of this structure. 2. impact of the resulting span of control. 3. effect on employee behavior. c. When determining the appropriate span of control, discuss the factors that should be considered.arrow_forward
- Which is NOT an element of the Controlling function? O a. Comparing actual Performance with standards so as deviations to discover. O b. Measuring actual performance when subordinates complete assigned job. O c. Penalizing the employees who meet the standards O d. Determining standards of performance for the subordinates.arrow_forwardInternal control procedures do NOT include: A. smart hiring practices. B. adequate records. C. limited access. D. control environment.arrow_forwardHow discussing control with the apprpriate levels of personnel in internal control system?arrow_forward
- Which of the following measures both efficiency and effectiveness? a. social responsibility Ob. workplace misbehaviour Oc Organisational behaviour O d. Employee productivityarrow_forwardAccording to COSO, the proper segregation of functions is an effective internal control procedure. Comment on the exposure (if any) caused by combining the tasks of paycheque preparation and distribution to employees.arrow_forwardWhich among the following is not representing an inherent limitation of the Internal control system a. Misunderstanding of instructions by employees b. None of these Options c. Employee conspiracy / collusion d. Limitations due to human decisions/ judgementsarrow_forward
- A company implements internal controls to improve the chances that employee will function according to the plans and standard operating procedures developed by the management team. Select one: True Falsearrow_forwardWhat happens when a Covered Member disagrees with a Supervisor?arrow_forwardIn which element of Internal Control are personnel policies included: Control Procedures Control Environment O Risk Assessmenet Information and Communication O Monitoringarrow_forward
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